Joe Caruso
speaker
4,639 appearances
52 recordings
1 series
first heard May 2010
last heard Oct 2012
Joe Caruso’s voice in public audio — every appearance, attributed to the second.
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Appearances
And we always like to talk about mitigating risk.
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Franchisors sometimes throw caution to the wind and do things that seem expedient, seem simple, but turn out to be...
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Not so good for them.
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So, you know, it's going to be an ounce of prevention, but done in a proactive way so that you can make this work for growth in your brand and in your franchise system.
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In terms of sectors, Ron, why do you think some franchisors are having more success with lenders as opposed to others that aren't?
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What differentiates the success rates between the ones that are successful and the ones that are not?
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You know, it's interesting, Ron, you bring up the restaurant sector and audacious development schedules.
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You know, I think a dirty little secret in restaurant franchising is that the larger the development agreement, the less likely it's going to happen.
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And even if it does happen, the best laid
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plans of mice and men at the onset of that development agreement, you're going to modify that agreement down the road.
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The other thing that a lot of franchisors are loathe to do is to terminate a development agreement when the development objectives haven't been met.
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And I think the profitability aspect is certainly front and center in reasons why they're not met.
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And also the qualifications and from a financial standpoint,
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of the people that they're entering into the development agreement with, those franchisees may not have really had the requisite capital to fund that development agreement.
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So right-sizing your development objectives with the operational and financial capabilities of franchisees, in my mind, would seem imperative, but certain people seem to lose sight of that.
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Well, version 3.0, you know, we've been, you know, three years plus into the –
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our great recession.
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And this is the third time that Ron's been on our show to talk about this same subject.
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And we dive deeper each time he's on, and there's always new news on the forefront.
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I mean, you compare our show 1.0, if you will, with today's show, and there's a stark contrast to what the lending environment was back then and is today.
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Showing 1301–1320 of 4,639 · page 66 of 232
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